November 16 Market Close: GovCon Index Surges 3% on Defense Stock Volume

GovConIndexUPThe GovCon Index rebounded from a two-day decline Monday with a surge of 2.901 percent to 77.587 on high volume in defense stocks three days after the terrorist attacks in Paris Friday.

Ammunition and rocket manufacturer Orbital ATK (NYSE: OA) led all Index gainers at 6.37 percent to $85.19 and 29 out of 30 listed companies ended in positive territory with Serco Group the lone unchanged stock.

According to the Wall Street Journal,  the S&P 500 composite index’s energy sector was the top gainer at 2.8 percent and crude oil settled 3 percent to $42.08 in New York on worries that supply disruptions could result from turmoil in the Middle East.

Market analysts and investors tend to view trading activity after terrorism incidents as typically not having a notable long-range impact on markets, the Journal reported.

Top GovCon Index Gainers

Symbol Company $ Current Price Net Change % Change
OA Orbital ATK 85.19 +5.10 +6.37%
CSC Computer Sciences Corp. 68.77 +3.97 +6.13%
LLL L-3 Communications 123.65 +5.24 +4.43%
NOC Northrop Grumman 186.61 +7.79 +4.36%
RTN Raytheon 122.11 +4.86 +4.14%

Market Summary

Advancing Issues 29
Declining Issues 0
Unchanged Issues 1
Index Value Net Change % Change
GovCon Index 77.587 +2.187 +2.901%
S&P 500 2, 053.18 +30.14 +1.49%
Dow Jones Industrial Average 17, 483.01 +237.77 +1.38%
NASDAQ 4, 984.62 +56.73 +1.15%
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